Clearwire (CLWR) Underwriters Exercise 26.25M Common Option
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Clearwire Corporation (Nasdaq: CLWR) reports that the underwriters exercised their option to purchase an additional $52.5 million, or 26,250,000 shares, of Clearwire’s Class A Common Stock in the previously announced $350.0 million public offering of Clearwire’s Class A Common Stock, resulting in a total sale to the public of 201,250,000 shares of Class A Common Stock. Both the initial shares and the optional shares are expected to be issued and delivered on December 13, 2011.
Clearwire plans to use the net proceeds for general corporate and working capital purposes, including the deployment of mobile 4G LTE technology alongside the mobile 4G WiMAX technology currently on its network and for the operation and maintenance of its networks and to pay fees and expenses associated with this offering.
Clearwire plans to use the net proceeds for general corporate and working capital purposes, including the deployment of mobile 4G LTE technology alongside the mobile 4G WiMAX technology currently on its network and for the operation and maintenance of its networks and to pay fees and expenses associated with this offering.
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